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6 Tips to Reduce the Effects of Car Depreciation if Buying a car
When buying a car, what most drivers fear the most is depreciation, especially if they plan to put their vehicles for sale in the future.
Car depreciation refers to the variation between the value of the car when you buy it and the total amount you will receive when you decide to sell it. The value of the car drops every year and the rates of depreciation usually fluctuate.
The good thing is, you can reduce the effect of car depreciation. Philkotse.com will help you know how! Read on the tips we prepared below.
1. Choose your options wisely
There are many available options when buying a new car. Lots of them will help improve the driving enjoyment and levels of comfort of drivers and car users. However, be reminded that not all options are a good idea especially if your top priority is to reduce depreciation.
If you are looking for a brand new Tata car, make sure to ask the car salesmen at Tata Philippines dealerships to suggest only options that can add value, for example, leather interiors and a built-in sat-nav.
2. Prefer brands that are known for reliability and quality
It's highly desirable to buy cars from brands that are known for reliability and quality such as the Tata Philippines. When you put your car for sale, it will have greater value than those cars from other brands. Cars from trusted brands hold better value compared to cars from other brands. MINI cars and BMW cars fall in this category.
In addition, when buying a car, you should think long term. According to researches, buying an expensive car, in the long run, is less costly compared to cheaper cars, mainly because high-value cars have better depreciation rates.
3. Colors matter
You might consider buying a car that has unusual or loud colors because it will reflect your personality, however, this can also be the reason why you'll have a hard time selling your vehicle in the future.
It is preferable to buy a Tata car in popular or common color because it will allow you to sell your vehicle easier.
4. Maintain your vehicle well
A well-maintained vehicle will always have a greater value compared to cars that are not well taken care of. Always keep the service history updated and immediately repair any damage in order to keep the worth of your car and to also get the highest possible resale value.
5. Run fewer miles
If your car has high mileage, then it will also have high depreciation rates. That's why it's suggested to do fewer miles as possible because it will have lesser depreciation rates which will save you money.
6. Boy racer-type modifications should be avoided
This type of car modification limits the number of your car's potential buyer. Avoid boy racer-type of car modifications to improve the depreciation rate of your vehicle.